The Nigerian Bar Association (NBA), has commended the Economic and Financial Crimes Commission (EFCC), for its good works in fighting economic and financial crimes.
The Association gave the commendation on Thursday, when the chairman of the Abuja branch, Afam O. Okeke, led a delegation to the corporate headquarters of the Commission, Jabi, Abuja.
According to Okeke, ‘’We in the NBA Abuja branch, commend the Commission on the work you are doing to sanitize the society on the issue of financial crimes; and fighting corruption is a thing we must all key into for the benefit of the generality of the citizens of the country if we are able to get it right’’.
The Association also pledged to support the Commission in its fight against corruption with critical inputs whenever such is demanded. The Association however solicited the Commission’s intervention in resolving the lingering regulatory issues between its members and the Special Control Unit Against Money Laundering (SCUML).
Responding, the Chairman of EFCC, Abdulrasheed Bawa, thanked them for appreciating the contributions of the Commission, assuring that the EFCC was committed to partnering with the bar in furtherance of the fight against corruption.
Represented by the Director, Legal and Prosecution, Sylvanus Tahir, SAN, Bawa noted that the activities of the SCUML was not targeted at any specific trade or professional group, but an honest attempt at enforcing extant regulations in line with global anti-money laundering imperatives in the aftermath of the 2001 terrorist attack in the United States. ‘
’I believe with the greatest respect, the issue of SCUML has been misunderstood. Nigeria is not an Island to itself, we belong to the comity of nations, and I am sure that there is none of us here that does not know about Financial Action Task Force (FATF) or the Egmont Group which is a congregation of states that have signed international protocols and treaties which is binding on all member states, and Nigeria is not an exception,” Bawa noted.
He explained that flagging the accounts of Designated Non-financial Businesses and Professions was not discriminatory, but an attempt by regulatory and law enforcement entities to ensure that the organisations are not used as conduits for laundering proceeds of illicit activities.
